That would work, here's what I do.
Follow Deathbrewers partial mash instructions but instead of "tea bagging" in another pot for the sparge, I have a sink colander that sits right on top of my brew/mash kettle. I pull the nylon grain bag out and stick the colander underneith it. Then I have my sparge water heated up in two or three seperate pots, however many I need to get at least 2 gallons of sparge water, and I simply pour them over the grain bag to wash out all the goodness.
I have been doing this for my last 4 or 5 batches and I am hitting between 70-75% efficiency every time. Works well.